In order to obtain the benefits of exchange treatment, the same person who started the exchange must complete the exchange. While this seems simple enough, the manner in which title to the "relinquished property" was vested may, due to a variety of circumstances, differ from the manner in which title to the "replacement property" must be vested.
See articles below for more detailed information on vesting in a 1031 exchange.
Vesting Title in a 1031 Exchange
Real Estate Choice of Entity: Should Your Property be in an LLC?
Drop and Swap - Dissolution of Partnerships Prior to Exchanging
Exchange by Partnership Fails when Replacement Properties Are Transferred to Partners in Liquidation of Partnership
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